Episode 22: AI stocks surge while the rest burn
The AI Mega Caps surge, while the rest of the world burns. Equities were dragged record highs by 2 stocks this week, masking the underlying weakness in the rest of the market and the effect of a more hawkish than expected Fed meeting.
Stock Highlights
- Sigma (SIG) Sigma Healthcare’s proposed merger with Chemist Warehouse faces scrutiny from the ACCC due to competition concerns at both the retail and wholesale levels.
- ASX (ASX) The ASX dropped over 8% after revealing at its investor forum that it expects cost growth of 6%-9% in FY 2025 due to ongoing technology investments following the costly CHESS registry upgrade failure.
- Telix Pharmaceuticals (TLX) Telix Pharmaceuticals decided against a Nasdaq listing to raise $300 million, citing misalignment with shareholder interests and unsatisfactory proposed discounts.
Trade of the Week
- Boss Energy (BOE) – This uranium producer should recover from oversold levels as uranium stabilises
